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Standards are a good thing for treasury departments bent on automation and efficiency, but a cascade of new standards and drawn-out migrations by various players has left treasuries in a Tower of Babel. A bank transmission to or from an ERP system or treasury workstation may no longer make sense. The more banks and internal systems involved, the worse the cacophony gets, requiring one emergency translation patch after another. Now the treasury at Toyota Financial Services (TFS) in Torrance, Calif., has solved this problem by building a solution around SWIFT Alliance Integrator for version 7 of SWIFT.Recommended Stories
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